Property, Plant & Equipment - Net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant & Equipment - Net

PROPERTY, PLANT AND EQUIPMENT – NET

Significant classes of property, plant and equipment are as follows:

(Millions of dollars) December 31,	Depreciable Lives (Yrs)	2023		2022
Production plants (primarily 15-year life) (a)	10-20	$	33,071	$	30,554
Storage tanks	15-20	5,445		4,807
Transportation equipment and other	3-15	4,050		3,434
Cylinders	10-30	4,993		4,604
Buildings	25-40	3,275		3,002
Land and improvements (b)	0-20	1,087		1,047
Construction in progress		3,404		3,239
		55,325		50,687
Less: accumulated depreciation		(30,773)		(27,139)
		$	24,552	$	23,548

(a)     Depreciable lives of production plants related to long-term customer supply contracts are generally consistent with the contract lives.

(b)     Land is not depreciated.